The B.C. government is set to make a housing announcement in North Vancouver on Tuesday.
Premier David Eby will join Housing Minister Ravi Kahlon and the city’s mayor, Linda Cavanaugh, in a press conference at 10:30 a.m. Global News will livestream the address on its website.
A news release states that new builds will cater to “people with middle incomes.”
Housing summit gets underway
The announcement comes as the Union of BC Municipalities’ Housing Summit 2024 gets underway in Vancouver.
That two-day conference will delve into the housing crisis in the province, consider solutions for affordability and attainability, and examine the effects of recent provincial changes to legislation impacting development.
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The province’s four-point housing strategy commits $4 billion over three years and $12 billion over a decade to boosting stock and lowering prices. It also promised changes to provincewide zoning laws to allow more townhomes, duplexes, triplexes and row homes, and a new tax on the proceeds of house-flipping.
B.C. government uses Rental Protection Fund to buy two Coquitlam Co-ops
Last September, the federal government announced it would eliminate the GST on the construction of all new rental apartment buildings.
Shortly afterward, B.C. brought in two new measures under its multi-billion-dollar housing plan: a new guide for homeowners who want to build and manage a rental suite on their property, and a one-stop shop digital hub for homebuilding permit applications to help clear backlogs. Both were launched in anticipation of planned legislation to make secondary suites legal throughout B.C. and an incentive program offering some 3,000 homeowners forgivable loans of up to $40,000 to build and rent them below market rate.
In November, B.C. introduced its legislation to legalize small-scale, multi-unit homes in cities provincewide. Under the new legislation municipalities of 5,000 people or more will be required to update their zoning rules, allowing for three to four units on a standard residential lot, and up to six units on larger lots near rapid transit.
Communities must also allow at least one laneway home or secondary suite on single-family or duplex lots.
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